What does landlord insurance cover?

When one invests in property as a way of sustainable income, by renting out flats and houses to working class citizens, students and housing benefit, endorsed tenants, you become a landlord.

As a landlord, you need to protect your investments by insuring your property from fire, flood damage and subsidence. If you rent a furnished property, you also need to cover furniture, fixtures and fittings, accidental damage and theft by tenants.

You also need to cover the rent if a property becomes uninhabitable, due to fire and water damage. The only way to protect your business would be to buy a landlord property insurancepolicy.

Learn more about landlords insurance:

Buildings Insurance

Contents Insurance

Loss of Rent Insurance

Public Liability Insurance

Emergency Assistance Insurance

Accidental & Malicious Damage Insurance

Have a closer look below...

Landlord buildings insurance

When you invest in bricks and mortar, it is a wise move to take out landlord buildings insurance, which will protect the building against fire and flooding damage, in the event of a natural disaster, taking place.

The policy will pay for your building to be totally rebuilt, if a fire takes place at the property or if it gets swept away, due to a flooding disaster. Please tell the insurance company the exact cost of the rebuild, because if you don’t, you may not get the full amount to cover the cost.

When you invest in property and plan on renting it out for monthly rental income, you may consider furnishing the property with a sofa, new carpets, a microwave and white goods, such as a fridge freezer, a washing machine and maybe some fancy wood work.

If you do, this will cost you money, but there is a way to protect that investment, if you take out landlord contents insurance, this will cover your contents, which will include furniture, fixtures and fittings, and also theft of property.

Some polices extend up to £75,000 and higher, if you have high value contents.

If you’re a landlord, you have a business, and businesses need assurance against the public. If for any reason the tenant or a visitor to the property injures himself or herself, you could get the blame for it, what do you do?

Your landlord liability insurance involves public and employee liability cover, which should be included into to your policy. Public liability will cover the tenant or the visitor from injury, such a simple thing, like the tiles at the front door being loose and someone gets hurt, they could make a claim against you.

Don’t be caught out with this, get this cover included in your policy when you compare landlord insurance policies in a few minutes from now.

When you have loss of rent insurance included in your policy, your rent will be covered if the property is fire damaged or a major flood hits your area. While the repair work is going ahead, the policy will pay, all, or a percentage of the mortgage on the property, so you can keep the repayments up.

When you have an emergency like a water leak or a faulty boiler, what do you do about it, pay for a plumber, phone a friend or try and fix it yourself?

Lucky for you, you can take on emergency assistance insurance, which looks after your property when your tenant has an emergency at home. The best benefit about this policy add-on is that you don’t need to do anything as the landlord. You can leave a number with the tenant and the landlord house insurance company will talk to them and send someone to fix the problem.